In the world of Rolex collecting, tiny details often hold major collectors value. One of the most subtle—and increasingly sought-after—variations of a vintage "Swiss Only" Rolex can be found as the dial inscription at 6 o’clock.
Between late 1998 and early 1999, Rolex produced a small number of watches with dials marked simply “SWISS” at the bottom, as opposed to the more familiar “SWISS MADE” that we see today.
These nicknamed “Swiss Only” dials represent a unique transitional period in Rolex history. Their rarity, tied to the evolution of luminous materials on the dial, makes them particularly appealing to collectors.
In this blog, we will break down the differences between "Swiss Only" and "Swiss Made" Rolex watch Dials.
What is a "Swiss" Dial
Prior to 1998, Rolex used tritium-based lume on its watches. These lumes aged with time, causing hour and hands markers to turn a pumpkin-yellow patina over the years. Tritium had the advantage of glowing brighter for longer in the dark, but came with the health hazard of being slightly radioactive. As a small warning, watches made with tritium were designated with "T Swiss T" at 6 o’clock, indicating the presence of tritium.
In 1998, Rolex transitioned to LumiNova—a modern, non-radioactive compound that glows brightly without the safety issues of tritium.
During this transition to LumiNova, Rolex dropped the tritium designation and began marking dials with just “SWISS" (i.e. "Swiss Only). By 1999, Rolex adopted Super-LumiNova (a Swiss-made version of the compound) and returned to the traditional “SWISS MADE” dial text, which remains standard today.
The result is that “Swiss Only” dials exist only on Rolex watches produced for roughly one year, making them significantly rarer than their tritium or Super-LumiNova counterparts. Models known to feature “Swiss Only” dials include the Submariner 14060 and 16610, GMT-Master II 16710, GMT-Master 16700, Explorer I 14270, Explorer II 16570, Sea-Dweller 16600, and late examples of the Zenith-powered Daytona 16520.
“Swiss Only” Rolex Watch Market Value
For collectors, the presence of a “Swiss Only” dial indicates not just rarity but originality. It’s a subtle marker of evolution within the Rolex production timeline, and a rare piece from a limited span of production.
In most cases, fewer than five percent of watches within a reference number were produced during the Swiss Only window, adding to their desirability. For now, pricing differences are modest, but as the collector market continues to mature and focus more heavily on 1990s-era Rolex, these transitional dials are expected to gain ground.
For example, a “Swiss Only” Submariner Date can sell for anywhere from $13,000 to $45,000 depending on condition and rarity.
However, it is important not to confuse “Swiss Only” Rolex watches with those serviced in early 2000s. Rolex service dials from this time also sometimes featured “SWISS” markings. In these cases, a “Swiss Only” dial on a pre-1998 Rolex is not a sign of rarity but a service replacement, which can lower the watch’s collector value. Verifying the production year and serial is critical when evaluating any “Swiss Only” example.
Although many “Swiss Only” references remain under-appreciated in the broader market, interest is growing among savvy collectors.
These rare dials capture the brief overlap between vintage lume and modern watchmaking. For collectors seeking originality, historical significance, and low-key rarity, a Rolex with a factory-correct "Swiss Only" dial offers all three.
